ABB hit by offshore wind delays

A storm at a German offshore wind project site

A storm at a German offshore wind project site

Swiss-based power and automation giant ABB warned investors its fourth-quarter profits will be hit by weather and operational issues at North Sea offshore wind projects.

ABB – which is working on a number of major transmission projects in Germany including the 800MW Dolwin1  – said its Power Systems division will take a hit of about $260m in charges to its Q4 operating earnings.

This is “mainly from delays to offshore wind projects caused by severe winter storms in the North Sea in December, and some operational issues”, ABB told its investors.

The issues are being addressed with an “enhanced realignment programme” under a newly-installed leadership, said the company.

Recharge reported in December how gale-force winds Log in to read complete article.

Become a Recharge subscriber!

Or try our free trial.

Order Subscription

Already a member?

Login


Recharge Monthly Magazine